5:43 am August 25, 2010, by Henry Unger
The big local business story comes out of DeKalb.
Balking at giving public money to a private developer, DeKalb County voted Tuesday against investing in the redevelopment of the shuttered Doraville GM plant, AJC staffer Megan Matteucci reports.
Instead, the county will likely use $36 million in federal stimulus bonds to upgrade its aging water and sewer system.
After months of closed-door meetings and negotiations, the DeKalb County Commission voted 5 to 2 to kill the $54 million project that called for a mixed use of retail and office space, as well as residential units at the site near I-85 and I-285, Matteucci writes.
The plan called for giving $36 million in federal stimulus bonds to Florida developer New Broad Street. It also required another $18 million in interest, which would be paid for by a property tax increase, Matteucci reports.
“The commission realized this wasn’t the right time to give $36 million to a developer,” said Commissioner Elaine Boyer, who represents the district that includes the GM site. “Taxpayers were revolting. I got hundreds of e-mails. What you saw today was representative government at its best.”
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